Curtiss-Wright Corporation (NYSE:CW) announced today that it has been awarded contracts valued at approximately $50 million to supply valves for the U.S. Navy's Virginia Class Submarines, Ford Class Aircraft Carriers and Nuclear Propulsion Training Units. The awards were received from Bechtel Plant Machinery, Inc. (BPMI), NAVSUP Mechanicsburg and General Dynamics Electric Boat. The Curtiss-Wright Flow Control facility in East Farmingdale, N.Y. will perform the work under these contracts. Engineering and manufacturing is expected to commence immediately and will continue through 2017.
"We are very pleased to have been awarded these contracts, which continue Curtiss-Wright's long-standing relationships and ongoing support for U.S. naval defense programs," said David C. Adams, President and CEO of Curtiss-Wright Corporation. "These platforms remain critically important to our national defense and our continuous improvement and cost reduction initiatives have supported the U.S. Navy in its efforts to contain costs while providing the critical resources required by our armed services. Since the inception of nuclear powered ships, Curtiss-Wright's commitment to providing the most advanced and reliable technologies has ensured our continued participation in this defense program."
For over 50 years, Curtiss-Wright has supplied technologically advanced products and services to the U.S. Navy, particularly for nuclear propulsion systems. The company's innovative, high-performance products can be found aboard nuclear submarines and aircraft carriers commissioned by the U.S. Navy, ensuring safe, reliable operations. In addition, Curtiss-Wright technologies, such as power-dense motors and enhanced valves, enable more efficient operations, reduce manpower and overall cost, and increase safety. These recent contracts reflect support of shipbuilding, training platform retrofits and ready spare valves to be installed in the propulsion, submarine safety and ship's service systems.
Source: Curtiss-Wright Corporation (NYSE: CW)
Date: Nov 7, 2013